In a significant move within the Australian hospitality and entertainment industry, Crown Resorts has announced the appointment of John Borghetti as the new Chairman of the company, effective July 1, 2024. Borghetti, currently the chair of Crown Sydney, will succeed William McBeath, who assumed the role in July 2022 after the acquisition of Crown Resorts by Blackstone. While McBeath steps back from the chairmanship, he will continue to serve as an independent non-executive director. This transition marks a pivotal moment for Crown Resorts as it continues its journey of transformation and regulatory compliance.
McBeath’s Stewardship and Borghetti’s Vision
During McBeath’s tenure, Crown Resorts navigated through extensive regulatory reforms and remediation programs, ensuring the retention of operational licenses for Crown Melbourne and Crown Sydney. His emphasis on regulatory compliance and cultural reform has laid a strong foundation for Crown Resorts’ future endeavors. With Borghetti assuming the chairmanship, the focus remains on safe, responsible operations, while also driving growth and enhancing guest experiences across Crown’s properties in Victoria, New South Wales, and Western Australia. Borghetti’s extensive experience in operations, leadership, and governance positions him well to lead Crown Resorts into its next phase of development.
Continued Transformation and Regulatory Compliance
The appointment of Borghetti reflects Crown Resorts’ commitment to maintaining compliance with regulatory standards while fostering innovation and growth. Under McBeath’s leadership, Crown Resorts undertook significant remediation work, particularly in Crown Perth, positioning the company for sustainable growth. Borghetti’s leadership is expected to continue this trajectory, ensuring that Crown Resorts not only meets but exceeds the expectations of stakeholders, including government bodies and regulators.
Securing Operational Licenses
Recent successes in regaining operational licenses for Crown Melbourne and Crown Sydney underscore the effectiveness of Crown Resorts’ remediation efforts and its commitment to regulatory compliance. These achievements validate the company’s dedication to addressing concerns raised by regulators and stakeholders, reaffirming its position as a leading player in the Australian entertainment and hospitality sector.
Borghetti’s Dual Role
In addition to his new role as Chairman of Crown Resorts, Borghetti will continue to serve as the chair of Crown Sydney. This dual responsibility underscores his deep involvement and commitment to the success of Crown Resorts’ operations, particularly in key markets such as Sydney. By maintaining consistency in leadership across its properties, Crown Resorts aims to streamline its strategic vision and operational execution.
As Crown Resorts transitions its leadership with the appointment of John Borghetti as Chairman, the company reaffirms its commitment to regulatory compliance, responsible operations, and sustainable growth. Under the stewardship of both McBeath and Borghetti, Crown Resorts has navigated through a period of transformation and emerged with renewed focus and determination. With Borghetti at the helm, Crown Resorts is poised to capitalize on its recent successes and chart a course for a vibrant and prosperous future in Australia’s entertainment landscape.